Market Updates

End of Day Report – Wednesday 1 October: ASX 200 falls 3 points | BHP down 2.5% on China halt


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The ASX 200 slid a mere 3 points to 8846 as the US government shutdown weighed on sentiment. BHP under pressure from the off on news of a halt to iron ore sales in China, falling 2.5% with RIO up 0.5% and FMG doing well, up 1.4%. Lithium stocks under pressure on CATL news of a reopening, MIN fell 3.8%, LTR off 10.7% and PLS falling 6.4%. Copper stocks mixed, SFR up 1.6% and gold miners mostly firm, new record highs for bullion. NST up 0.8%, GMD up 0.7% and WGX rising 10.7% on its 3-year plan. Uranium eased and oil and gas mixed, STO up 0.5%. 

Banks eased back slightly, CBA up 0.1% with the Big Bank Basket down to $283.09 (-0.1%). Financials found some friends, SOL up 5.4% and MPL rising 0.6%. Healthcare better, CSL up 0.3% and RMD rising 0.8%. Industrials mixed, BXB up 1.3% with TLS rebounding 0.6%. Retail stocks eased a little, tech mixed, WTC up 0.6% and XRO up 0.6%. 

In corporate news, BVS soared 18.2% on guidance improving. APE in a trading halt pending a capital raise and a Canadian acquisition. ASB jumped 5.8% on a US Naval agreement.

On the economic front, nothing locally. Asian markets muted as China National Day takes precedence. Japan down 1%.

10-year yields drifted higher to 4.35%. US Futures down 0.5% on shutdown.

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